Company Directory - Drax Group plc
Company Details - Drax Group plc
Drax Group plc
WebsiteSelby, United Kingdom
Drax Group plc is a British energy company specializing in bioenergy. It operates the world’s largest wood pellet-burning biomass power station near Selby in Yorkshire and has been noted as the UK’s largest carbon dioxide emitter, reflecting the evolution of its energy portfolio from traditional fossil fuels to renewable biomass.
CCI Score
CCI Score: Drax Group plc
-41.84
0.02%
Latest Event
UK subsidy cuts and sustainability misreporting at Drax
The UK government’s decision to halve subsidies for Drax, following revelations of misreporting its wood sourcing data and potential breaches of sustainability protocols, has raised significant concerns regarding the company’s supply chain ethics and regulatory capture.
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TOADIE
Drax Group plc is currently rated as a Toadie.
Latest Events
- FEB102025
The UK government’s decision to halve subsidies for Drax, following revelations of misreporting its wood sourcing data and potential breaches of sustainability protocols, has raised significant concerns regarding the company’s supply chain ethics and regulatory capture.
-60
Supply Chain Ethics
March 21
Drax has been found misreporting the source of its wood biomass, including concerns about using material from primary forests. This failure in maintaining transparent and sustainable supply chain practices undermines its ethical responsibility and contributes to environmental degradation, aligning with broader systemic corporate misbehaviors that indirectly reinforce authoritarian-capitalist practices.
-30
Regulatory Capture
March 21
The regulatory oversight failure is evident as Drax has previously been penalized for misreporting sustainability data. Such negligence suggests elements of regulatory capture, enabling the company to continue receiving billions in government subsidies despite clear violations, thereby exacerbating distrust in corporate-government dynamics, a key concern for anti-authoritarian groups.
- NOV272024
A Greenpeace UK investigation reveals that Drax Group plc, despite marketing its biomass power station as a green alternative, is engaged in aggressive lobbying for billions in government subsidies, misreporting sustainability data, and engaging in practices that result in environmental degradation and racism.
-80
Public and Political Behavior
November 27
Drax's active lobbying for billions in additional government subsidies undermines democratic oversight and contributes to regulatory capture in public policy, aligning its business interests with authoritarian financial practices.
-85
Business Practices and Ethical Responsibility
November 27
Drax’s business practices, including misreporting sustainability data, sourcing wood pellets from environmentally sensitive primary and old-growth forests, and contributing to environmental racism through pollutant emissions, reflect a pattern of ethical irresponsibility and disregard for human rights.
-75
Economic and Structural Influence
November 27
Drax’s dependence on vast public subsidies, while simultaneously distributing large dividends to shareholders, exemplifies economic collaboration with policies that favor corporate interests over the public good, thereby reinforcing structures that facilitate authoritarian exploitation of state resources.
- AUG082024Drax Group plc: Controversial Suppression of Climate Protest and Unsustainable Biomass Practices
-65.00
Drax Group plc faces criticism for its role in using state power to suppress climate protests while engaging in environmentally harmful biomass practices that contribute to deforestation and negatively impact environmental justice communities.
- JAN182024
The government proposal to extend subsidies for Drax Group plc's biomass plant has sparked controversy. Critics argue that the extra financial support for burning trees for electricity represents a form of regulatory capture that enables environmentally destructive practices and prioritizes corporate interests over public welfare.
-60
Economic and Structural Influence
March 21
The extension of subsidies for Drax’s biomass operations, which involve burning trees for electricity, illustrates an undue level of influence between the company and government regulatory bodies. Despite environmental warnings and criticisms by climate groups and MPs, the plan pushes forward, suggesting Drax is benefiting from a captured regulatory environment. This situation poses significant risks by prioritizing corporate and political interests over sustainable and ethical energy practices.
Fury at plan to extend Drax subsidy to burn trees for electricity
- OCT012023
Drax Group plc has published a mandatory political engagement policy designed to guide employees and contractors on lawful and compliant interactions with political entities. This policy aims to promote transparency and regulate political engagement, potentially reducing the risk of complicity in partisan political activities or authoritarian influence.
+40
Public and Political Behavior
October 1
The policy reflects an internal regulatory effort to manage political engagement and ensure that employees and contractors adhere to a clear standard of behavior. From a left-leaning anti-fascist perspective, such guidelines are a positive step towards preventing the corporate use of political influence to bolster authoritarian agendas. However, the overall positive rating is contingent on the policy being effectively enforced and transparent, and additional details would be necessary to determine its true impact.
- JUL212023
The article reveals that Drax Group made a £12,000 donation to the Northern Research Group—a political organization closely aligned with Tory MPs—while simultaneously benefiting from massive government subsidies. This combination of political contributions and economic collaboration raises concerns about corporate complicity in reinforcing authoritarian practices and undermining democratic accountability.
-50
Political Contributions and Lobbying Efforts
March 21
Drax Group's donation to the Northern Research Group indicates a deliberate effort to curry favor with political entities. By financially supporting an organization that influences Tory MPs, Drax is seen as contributing to a patronage system that can erode democratic accountability and indirectly support authoritarian tactics.
Major Polluter Drax Among Government-Backed Companies Donating to Northern Tory MPs
-40
Economic Collaboration
March 21
Drax Group's extensive receipt of government subsidies—including around £10 billion for its operations and anticipated additional support for carbon capture initiatives—demonstrates a deep economic collaboration with state apparatuses. This financial entanglement can lead to regulatory capture, whereby corporate interests are prioritized over public welfare, further entrenching authoritarian dynamics.
Major Polluter Drax Among Government-Backed Companies Donating to Northern Tory MPs
- MAY042023
At its AGM, Drax Group plc was sharply criticized for its unsustainable wood sourcing practices that have led to the destruction of old growth forests and adverse health impacts on local communities, particularly marginalized groups. The environmental and human rights concerns were raised by community leaders and environmental advocates during the meeting.
-75
Supply Chain Ethics
March 21
Drax's biomass supply chain has been under fire for sourcing wood from old growth and primary forests, leading to significant environmental destruction. The AGM highlighted scandalous sourcing practices that prioritize profit over sustainable and ethical resource management, directly contributing to climate damage and environmental degradation.
Drax faces environmental and human rights condemnation at AGM
-60
Labor Relations and Human Rights Practices
March 21
The AGM also raised serious human rights concerns, particularly regarding the impact of air pollution and environmental racism on marginalized communities. Testimonies from affected community leaders highlighted how Drax's operations have disproportionately harmed Black communities, worsening public health and contributing to systemic inequities.
Drax faces environmental and human rights condemnation at AGM
- SEP262022
Drax Group plc agreed to pay out $3.2m to settle air pollution claims against its wood pellet factories in the US. The settlements, involving cases in Louisiana and Mississippi, have sparked accusations of environmental racism, as the affected facilities are located near majority-Black, low-income communities. This exposes serious concerns about the company’s ethical responsibility and its impact on public health and environmental justice.
-70
Business Practices and Ethical Responsibility
March 21
Drax Group plc's decision to settle substantial air pollution claims highlights a problematic approach to environmental ethics and human rights responsibilities. The settlements, coming after fines for significant VOC violations, underscore how the company’s operations disproportionately affect marginalized communities. This behavior raises serious concerns about their commitment to ethical business practices in the context of environmental justice.
- MAR092022
Internal memos expose Drax Group's persistent lobbying efforts, where the company applied intense pressure on multiple government departments and engaged its top executives in influencing energy policy and bioenergy consultations, raising concerns over its undue influence on public policy and potential complicity in reinforcing authoritarian practices.
-65
Political Contributions and Lobbying Efforts
March 21
Drax's documented lobbying as revealed in internal treasury memos indicates a calculated effort to influence government policy on crucial energy matters. The pressure on senior officials and repeated meetings highlight their intent to secure favorable outcomes, raising serious concerns about their impact on democratic processes and potential alignment with coercive state policies.
-55
Executive Political Engagement
March 21
The involvement of top executives, including the CEO and senior public affairs managers, in direct meetings with key government officials underscores Drax's strategic political engagement. This high-level interaction, aimed at shaping energy subsidies and policy directions, further exemplifies how corporate leadership can exert undue influence over public policy, raising alarms regarding the erosion of democratic oversight.
- APR182019
Investors expressed strong dissent at Drax’s annual meeting over executive remuneration and a proposed increase in the political donation threshold, raising concerns about the firm's political influence and corporate governance practices.
-40
Public and Political Behavior
March 21
Drax’s move to seek an increase in the political donation threshold, along with its history of engaging with multiple political parties through sponsored events, raises red flags regarding the company’s willingness to influence political outcomes. Such actions risk bolstering corporate influence on democratic processes and can contribute indirectly to authoritarian practices. The investor rebellion underscores the concern that these political engagements prioritize corporate interests over genuine public accountability.
-30
Business Practices and Ethical Responsibility
March 21
The significant investor dissent regarding the high executive pay package reveals deep concerns about governance and ethical responsibility within Drax. The prioritization of oversized remuneration against shareholder and stakeholder interests is indicative of corporate practices that may exacerbate income inequality and undermine democratic accountability.
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